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Wednesday, June 29, 2022

Europe Is NOT the King of the Business Landscape: Maybe Your Scaleup Can Change That

Yes, Finland, Sweden and Estonia are global tech hubs. Still, none of the ten highest valued tech companies, public or private, are from Europe. It’s all China, the US and India. This is not the moment to get discouraged or overly nationalized, though. Instead, it is time to consider if you and your startup are willing to become Europe’s first tech company to enter world’s Top 10.

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   EIT Digital, a pan-European ecosystem of corporations, SMEs, startups, universities and research institutes aims to facilitate that. From content to businesses, the internet has enabled the decentralization of nearly everything, including entrepreneurship. This, while giving many the opportunity to build a startup from their phones, also means talent and expertise can be a bit more difficult to find. Over 180 member organizations have joined under EIT Digital roof to network and collaborate. EIT Digital also promotes and contributes to the growth of European digital deep tech. One such effort is their EIT Digital Challenge.

What is the Challenge?

The EIT Digital Challenge is a pitching competition for deep tech scaleups trying to grow who need more resources and expertise than their network (and their wallets) can provide.

What Do You Get if You Win?

The winner(s) will receive:

  • 12 months in the EIT Digital Accelerator (for the two best scaleups).
  • One scaleup will receive €50,000 cash
  • Assistance from a team of 40 business and financing experts who will help you get investments and figure out international targets
  • Access to the EIT Digital Network
  • Exposure through EIT Digital online and offline channels and partnerships

Who is Eligible?

Your company must:

  • Have been in business for a MAXIMUM of ten years
  • Be in the growth stage i.e. a minimum of €300,000 in revenue (in the full year 2018, or until the date of application in 2019) or €2,000,000 in funding
  • Be a Growing Digital Tech company
  • Be incorporated in EU28 or associated H2020 countries (see list of countries below)

How Do You Apply?

Submissions close on June 14th, 2019, through the application form here. The application will require you to enter basic information about your business, your online and social presence, descriptions of your product, your target, the amount of business you are getting, your pitch deck, etc.

P.S. If you are thinking of applying, perhaps contact previous winners for some insights & advice? See the list of previous winners near the bottom of the page here.

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Marija Odineca
Marija Odineca
I cover Baltic tech startups sharing startup stories, data, insights, and opinions

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